JCS Mining Services was formed in 2003 and in collaboration with its financial partners has sourced for Ghanaian small, medium and large scale mining concessions with an aim of investing in them and promoting them as well. It currently holds gold mining concessions in Mampong and Akrofufu in the Eastern Region of Ghana. JCS Mining Services has concluded all the preliminary research, license negotiations and initial gold exploration works and mining. The overall reserves and resources of its concessions exceed 6,000kg (211,638 ounces) of gold with an average annual gold production of 100kg in the first year 2003. At current gold price levels of approximately $38,609.38 per kilogram, this is estimated to result in revenues of more than US$ 3,860,938.00 of the investment.
Many trustworthy gold market analysts project the price of gold to rise significantly in the future, thus potentially further increasing revenue. However, after full development of its alluvial mine, the Company will break even at a gold price of about US$500/ounce.
JCS Mining Services has been controlled by a small group of individual shareholders in Ghana since its incorporation in 2003. They combine investment know-how, local experience and a good understanding of the political network in Ghana. All operations are headed by skilled professionals with extensive expert knowledge of the geographical region in which the Company is active.
To enhance its operations and to enable work in the goldfields, JCS Mining Services is seeking for an injection of two (2) new CAT 336 CL/DL excavators and its incidental expenditure of an amount of US$1,500,000.00 as a pre-finance funding in order to blend the old existing CAT excavators. The current focus is on the operation of its concessions with reserves of more than 211,638 ounces of gold in the region.
JCS Mining Services strives to be among the leading Ghanaian gold producers which apply Western Standards of production and management. Once the envisaged production level of approximately 100 kg or above per annum will be successfully reached, a trade sale will be targeted within a time frame of two years to provide an exit for the investors. According to the business plan, an investment of US$1,500,000.00 is required to yield an Internal Rate of Return of 10% per annum.